Oil pushes above $40 as equities rally
Oil held above $40 a barrel on Wednesday after a 4 percent rally in the previous session, as equities gained and investors looked ahead to U.S. inventory data expected to show rising supplies.
Crude's advance on Tuesday stemmed from Wall Street gains sparked by reassuring comments from Fed Chief Ben Bernanke, while President Barack Obama said the United States would emerge stronger from the econ...
European shares turn negative as banks cut gains
European shares turned negative in afternoon trade on Wednesday, tracking weaker U.S. markets, as investors stayed concerned that measures taken by governments to revive the economy were insufficient.
Oil nationalism diluted but far from dead
Resource-rich countries hoping oil will rebound from a $100 crash will not relinquish overnight the power that came with record prices, but relations between international firms and state-run companies have begun to thaw.
Turkish airliner crashes at Amsterdam airport, 9 dead
A Turkish Airlines passenger plane with 135 people aboard crashed in light fog while trying to land at Amsterdam's Schiphol airport on Wednesday, and an official said nine people were killed.
Union leaders urge vote for Ford agreement
United Auto Workers union leaders urged members on Tuesday to approve a concessionary deal with Ford Motor Co, stepping up the pressure on General Motors Corp and Chrysler to reach similar cost-cutting labor agreements in coming weeks.
Unpaid furloughs a trend for U.S. white-collar jobs
U.S. newspapers have done it. California police have too. Governments in California, New Jersey and Ohio say it will save the budget. Forcing workers to take unpaid time off is a new version of the American layoff.
Americans increasingly insecure about retirement
Only one in three Americans now believe they will be able to fully retire as huge losses in home and stock prices dent their confidence in the future, according to a study by Scottrade.
Bernanke says recession to linger
Federal Reserve Chairman Ben Bernanke warned on Tuesday the severe U.S. recession could drag into next year, but said banks should be able to weather the downturn without being nationalized, cheering markets.
UBS Japan mistakenly places $31 billion bond trade
A Japanese unit of Switzerland's UBS AG said its computer systems mistakenly placed a $31 billion order for convertible bonds (CB) of videogame maker Capcom Co on Wednesday, but it was able to cancel the trade at no cost.
WTO urges G20 to uphold pledge to fight protectionism
Leaders of the G20 developed and emerging countries should not backtrack on their agreement last year to fight protectionism when they meet in London in April, the head of the World Trade Organization said on Wednesday.
S&P sees more sovereign ratings downgrades this year
The head of sovereign ratings at Standard & Poor's told Reuters on Wednesday he expected more sovereign ratings downgrades than upgrades this year and flagged financial markets' concern about the health of public finances.
U.S. gas drilling boom stirs water worries
On a snowy hillside in rural southwest Pennsylvania, Larry Grimm drives his truck up a steep gravel track to a hilltop reservoir surrounded by orange plastic fencing and keep out signs.
Stiff green rules seen hurting U.S. public utilities
Tougher green rules coupled with the economic downturn could dim the currently stable outlook of U.S. public power electric utilities, Moody's Investors Service said in a report on Tuesday.
Obama seeks U.S. carbon emissions cap
President Barack Obama on Tuesday called on Congress to send him legislation that places a market-based cap on U.S. carbon polluting emissions and pushes the production of more renewable energy.
Mobile virtual network operators enter India
India will allow local and overseas firms to offer wireless telecoms services without owning networks or spectrum, the government said on Wednesday, accepting a recommendation from the telecoms regulator.
Live Nation and Ticketmaster face skeptical lawmakers
The chief executives of Live Nation and Ticketmaster got a skeptical reception on Capitol Hill on Tuesday, with a leading lawmaker pressing Ticketmaster to sell a reselling subsidiary.
Despite pledges, protectionist threat won't go away
The threat of protectionism just won't lie down, despite repeated promises of political leaders to refrain from raising barriers to trade.
Ambac reports $2.34 billion net loss
Ambac Financial Group Inc reported a fourth-quarter loss of more than $2 billion on Wednesday, as the bond insurer set aside nearly $1 billion more for losses tied to residential mortgage debt.
Google joins EU antitrust case against Microsoft
Google Inc has added its voice to the case against Microsoft Corp as the European Commission probes antitrust charges related to the software giant's Internet Explorer browser
Visto to buy mobile email rival Good from Motorola
Privately held mobile email provider Visto said Tuesday it agreed to buy rival Good Technology from Motorola Inc to expand its position in a market dominated by Research in Motion Ltd.
Oil below $40 after 4 percent bounce
Oil shed on Wednesday some of the previous session's 4 percent gains but held above $39, after President Obama balanced his message of hope for the U.S. economy with a warning and ahead of data on U.S. oil stocks.
Obama told Congress the United States would emerge stronger from its deepest economic slump in decades but said America faced a day of reckoning for its past excesses.
The preside...
Obama seeks the right tone on U.S. economy
President Barack Obama tidied up his economic message on Tuesday, reviving the hopeful Yes We Can spirit of his campaign and abandoning the Maybe We Can't impression he took to the White House.
AIG may abandon asset sales plan: report
American International Group Inc may scrap a plan to repay a $60 billion U.S. government loan by selling businesses, after failing to find enough promising bidders, Bloomberg said, citing people with knowledge of the matter.
DirecTV, DISH ask U.S. lawmakers for rural incentives
The right incentives would make satellite television companies willing to extend local service to underserved and rural areas, senior executives of DISH Network Corp and DirecTV Group Inc told lawmakers on Tuesday.
Citi may add Japan investment bank to sale: reports
Citigroup may sell both its Japanese investment bank and brokerage, according to media reports, as the faltering U.S. lender looks to raise more cash from a sale of global assets.
Obama: U.S. will emerge stronger from crisis
President Barack Obama struck a balance between grim economic reality and a more hopeful outlook on Tuesday to try to reassure worried Americans their country will emerge from crisis stronger than before.
US EQUITY FUTURES REPORT 02/24/2009
EQUITY FUTURES REGAIN NEARLY ALL OF MONDAY'S LOSSES, AS FED CHAIRMAN CALMS FEARS OF BANK NATIONALIZATION, FOCUS TURNS TO VALUE SHOPPING.
US TREASURY FUTURES REPORT 02/24/2009
ECONOMIC DATA 02/25/2009: all times EST. 10:00 AM US EXISTING HOME SALES (4.80 MILLION). 10:30 AM EIA INVENTORY
Bernanke calms nationalization fears
Federal Reserve Chairman Ben Bernanke warned on Tuesday the severe U.S. recession could drag into next year, but said banks should be able to weather the downturn without being nationalized, cheering markets.
BB&T keeps dividend steady as growth slows
Amid a time of crisis for the financial industry, shareholders of BB&T Corp., one of the largest U.S. regional banks, will continue to see steady dividend payments for fourth straight quarter although payout growth is slowing compared to previous years.
